Posts filtered by tags: Petroleo Brasileiro SA[x]


 

Petrobras board nominee Forman declines post

Brazilian state-run oil company Petroleo Brasileiro SA said on Wednesday that oil industry veteran John Forman had declined the government's nomination to join the board of the company, as the firm is known.
Tags: Money, businessNews, Petrobras, Petroleo Brasileiro SA, Forman, John Forman


Petrobras board nominee fined in 2016 for insider trading: documents

One of three new board members nominated by Brazil's government to sit on the board of state-run oil company Petroleo Brasileiro SA was fined in 2016 by securities regulator CVM for insider trading, according to CVM documents on the ruling seen by Reuters. The disclosure raises tough questions for new far-right President Jair Bolsonaro and Petrobras Chief Executive Roberto Castello Branco, who have vowed to end years of graft involving the oil company and Brazil's political class. Nominee Jo...
Tags: Science, Brazil, Petrobras, Reuters, Petroleo Brasileiro SA, CVM, Jair Bolsonaro, Roberto Castello Branco, John Forman


New Petrobras CEO pushes to oust board members: sources

The new chief executive of Brazil's Petroleo Brasileiro SA is pushing for the ouster of two of the state-controlled oil company's board members, three people with knowledge of the matter said on Friday. Roberto Castello Branco is seeking the resignation of two Petrobras board members, Segen Estefen and Durval Soledade, whose mandates were only supposed to end in 2020. Brazilian newspaper Valor Economico was first to report that Castello Branco was pushing for their exit.
Tags: Science, Brazil, Petrobras, Petroleo Brasileiro SA, Valor Economico, Roberto Castello Branco, Castello Branco, New Petrobras, Segen Estefen, Durval Soledade


New Petrobras CEO pushes to oust board members: report

The new chief executive of Brazil's state-controlled oil company Petroleo Brasileiro SA is pushing for the ouster of two board members, newspaper Valor Economico reported on Friday. Citing unnamed sources close to the matter, Valor said CEO Roberto Castello Branco is trying to push out independent board members Segen Estefen and Durval Santos, whose terms end in 2020. With the departure of Estefen and Santos, the new government would name four of 11 board members at Petrobras, as the company...
Tags: Science, Brazil, Petrobras, Santos, Petroleo Brasileiro SA, Valor Economico, Valor, Roberto Castello Branco, New Petrobras, Segen Estefen, Durval Santos, Estefen


Exclusive: Top suspect in Vitol, Glencore Brazil bribery case arrested in U.S. - court

A Brazilian man facing allegations of bribing officials at state-run oil company Petroleo Brasileiro SA on behalf of Vitol Group, Glencore and other major oil trading firms has been arrested in the United States, authorities said Tuesday.
Tags: Money, businessNews, United States, Petroleo Brasileiro SA, Vitol Glencore Brazil, Vitol Group Glencore


Exclusive: Top suspect in Vitol, Glencore Brazil bribery case arrested in U.S. - court

A Brazilian man facing allegations of bribing officials at state-run oil company Petroleo Brasileiro SA on behalf of Vitol Group [VITOLV.UL], Glencore and other major oil trading firms has been arrested in the United States, authorities said Tuesday.
Tags: Money, businessNews, United States, Glencore, Petroleo Brasileiro SA, Vitol Group, Vitol Glencore Brazil


Exclusive: Petrobras oilfield gets bids from PetroRio, Karoon Energy -sources

Brazil's PetroRio SA and Australia's Karoon Energy Ltd are among the bidders for a mature shallow water oilfield owned by Petroleo Brasileiro SA, according to two sources speaking on condition of anonymity, as the state-run oil major marches ahead with an ambitious divestment program.
Tags: Money, Australia, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA, PetroRio Karoon Energy, PetroRio SA, Karoon Energy Ltd


At Brazil's Petrobras, a 'Chicago Boy' takes the reins

Depending on who you ask, Roberto Castello Branco, the new chief executive of Brazil's Petroleo Brasileiro SA , will either save the indebted oil major - or strip it to the bone. Tapped by far-right President Jair Bolsonaro, who took power on Tuesday, Castello Branco had said in a June newspaper column he thought Petrobras - as the company is known - should be privatized, a hardcore proposal even in an administration packed with free market advocates. Castello Branco has sharply criticized th...
Tags: Science, Chicago, Brazil, Petrobras, Petroleo Brasileiro SA, Jair Bolsonaro, Roberto Castello Branco, Castello Branco


Brazil court ruling casts doubt over Petrobras asset sales

RIO DE JANEIRO/BRASILIA (Reuters) - A Brazilian Supreme Court justice on Wednesday suspended a presidential decree establishing rules for Petroleo Brasileiro SA to sell upstream assets, casting a pall over the state-controlled oil company's ambitious divestiture program. Justice Marco Aurélio Mello granted an injunction in a lawsuit brought by the leftist Workers Party to the Supreme Court, suspending a decree signed by President Michel Temer in April, the justice told Reuters. Part of the a...
Tags: Science, Supreme Court, Brazil, Petrobras, Reuters, Workers Party, Petroleo Brasileiro SA, Michel Temer, Marco Aurelio Mello


Petrobras plans to raise $26.9 billion with asset sales, partnering

Brazilian state-run oil company Petroleo Brasileiro SA plans to raise some $26.9 billion via asset sales and partnerships by 2023 while boosting investments on the front edge of an anticipated production boom in Brazil.
Tags: Money, businessNews, Petrobras, Petroleo Brasileiro SA


Brazil's Petrobras says could raise up to $26.9 billion through asset sales

Petroleo Brasileiro SA said on Wednesday that the Brazilian state-controlled oil company could raise $26.9 billion through asset sales and partnerships by 2023 as part of a new strategic business plan calling for further debt reduction.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA


Glencore, Trafigura, Vitol bribed Petrobras staff: Brazil prosecutors

Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA in return for business.
Tags: Money, businessNews, Brazil, Glencore, Petrobras, Petroleo Brasileiro SA, Glencore Trafigura Vitol, Vitol Trafigura


Incoming Petrobras CEO says no decision yet on future pre-salt oil auctions

No decision has yet been taken on the types of contract to be offered in Brazil's pre-salt deep water oil auctions, the incoming head of Petroleo Brasileiro SA said on Thursday, adding that fuel price policy is still being discussed.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA


Petrobras earnings soar on oil price rise, weaker currency

Brazil's state-controlled oil company Petroleo Brasileiro SA reported a surge in third-quarter net profit, helped by a pick-up in oil prices and the weakening of the real currency, the company said on Tuesday.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA


Exclusive: Petrobras could divest another $20 billion in assets through 2019 -source

Brazil's Petroleo Brasileiro SA could sell an additional $20 billion in assets through next year, a person with knowledge of the matter told Reuters on Tuesday, indicating that the state-run oil company expects to maintain its robust pace of divestments despite recent setbacks.
Tags: Money, businessNews, Brazil, Petrobras, Reuters, Petroleo Brasileiro SA


Exclusive - Brazil's Bolsonaro would not sell Petrobras in short term: party chief

The far-right front-runner in Brazil's presidential election, Jair Bolsonaro, has no plans to privatise oil company Petroleo Brasileiro SA in the short term if elected, the president of his party told Reuters on Wednesday.
Tags: Money, businessNews, Brazil, Petrobras, Reuters, Petroleo Brasileiro SA, Jair Bolsonaro, Bolsonaro


Brazil's Petrobras to pay $853 million U.S. fine in Car Wash probe

Petróleo Brasileiro SA will pay an $853.2 million fine to settle U.S. criminal charges that the Brazilian state-run oil company bribed politicians and then sought to conceal the payments, the U.S. Justice Department said on Thursday.
Tags: Money, businessNews, Brazil, Petrobras, U S Justice Department, Petroleo Brasileiro SA


Petrobras to resume building platforms no matter election outcome

Brazil's Petroleo Brasileiro SA will build its own oil platforms again from 2023, regardless of who wins the presidential election next month, an executive at the state-run oil company said.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA


Brazil's Petrobras prepays $975 million worth of bank debt

Brazilian Petróleo Brasileiro SA has settled three bank loans worth a total of $975 million that were due 2022, the state-controlled oil company said in a securities filing on Monday.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA


EIG-backed group in exclusive talks for mature Petrobras oilfield clusters: Reuters

Brazilian state-controlled oil company Petroleo Brasileiro SA has chosen to enter exclusive talks to sell two shallow water mature oilfields to a group backed by EIG Global Energy Partners, two people familiar with the matter said. Brazilian energy firm Ouro Preto Óleo e Gás, backed by EIG, made the top bid for the so-called Pampo and Enchova clusters, located in the Campos basin off the coast of Rio de Janeiro state, beating out Trident Energy, a Warburg Pincus-backed firm, the sources said. Th...
Tags: Trends, M&a, Brazil, Rio De Janeiro, Petrobras, Latin America, Warburg Pincus, Reuters, Campos, Petroleo Brasileiro SA, Ouro Preto, EIG, EIG Global Energy Partners, Riverstone Holdings, OGX, First Reserve Corporation


Petrobras-CNPC talks put China closer to first Americas refinery

SAO PAULO (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA and China National Petroleum Corp (CNPC) took another step on Wednesday in negotiations that could give the Chinese their first refining capacity in the Americas.
Tags: Money, China, businessNews, Petroleo Brasileiro SA, SAO PAULO Reuters Brazil, China National Petroleum Corp CNPC, Petrobras CNPC


Petrobras CEO resigns after Brazil fuel intervention, shares plunge

RIO DE JANEIRO (Reuters) - Pedro Parente, the chief executive officer of Brazil's state-controlled oil giant Petroleo Brasileiro SA who breathed new life into the scandal-plagued company, resigned on Friday, after a paralyzing nationwide trucker strike forced the government to lower diesel prices.
Tags: Money, businessNews, Brazil, Petrobras, Petroleo Brasileiro SA, RIO DE JANEIRO Reuters, Pedro Parente


Brazil president's office says will preserve Petrobras' pricing policy

The office of Brazilian President Michel Temer said in a written statement on Wednesday that it was committed to the financial health of Petroleo Brasileiro SA and it would continue to preserve the state-led oil firm's fuel pricing policies. A government source told Reuters that Temer may scrap a market-based pricing mechanism that Petrobras has used for the past year and revert to selling all fuel below costs after a trucking strike largely paralyzed the nation the past 10 days. Temer acknowl...
Tags: News, Brazil, Petrobras, Reuters, Petroleo Brasileiro SA, Michel Temer, Temer


Analysis: From Volkswagen to Bunge, concession holders in Brazil face hefty bill

BRASILIA (Reuters) - Companies from Brazilian state oil company Petróleo Brasileiro SA to commodities giant Louis Dreyfus Company and German car giant Volkswagen AG could face hefty bills after Brazil's Supreme Court this month allowed local governments to charge property taxes to operators of public concessions.
Tags: Money, businessNews, Brazil, Volkswagen, Volkswagen AG, Petroleo Brasileiro SA, BRASILIA, Bunge, Reuters Companies, Louis Dreyfus Company, Brazil s Supreme Court


Petrobras plans to sell a 25 percent stake in its refineries - newspaper

SAO PAULO (Reuters) - Brazilian state-controlled oil company Petróleo Brasileiro SA is planning the sale of a 25 percent stake in its refinery capacity, newspaper Folha de S. Paulo reported on Saturday.
Tags: Money, businessNews, Petrobras, Reuters, Petroleo Brasileiro SA, Folha de S Paulo


Qatar Petroleum wins exploration bids in 4 blocks offshore Brazil

Qatar Petroleum wins exploration bids in 4 blocks offshore Brazil:"Qatar Petroleum and its partners won bids for four exploration blocks in the Campos basin off Brazil’s Rio de Janeiro coast on Thursday, the company said in a statement.It will hold a 30 percent stake in two of the blocks to be explored along with Exxon Mobil Corp and Brazil’s state-controlled oil company Petroleo Brasileiro SA < and 36 percent in another two to be explored with Exxon."'via Blog this' [Author: [email protected]
Tags: Travel, Brazil, Exxon, Exxon Mobil Corp, Campos, Petroleo Brasileiro SA, Rupert Neil Bumfrey, Qatar Petroleum, Rio de Janeiro coast


Petrobras to pay $2.95 billion to settle U.S. class action over corruption

NEW YORK (Reuters) - Brazil's state-controlled oil company, Petroleo Brasileiro SA, said on Wednesday that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors who claim they lost money as a result of a corruption scandal.
Tags: New York, Money, businessNews, Petrobras, Petroleo Brasileiro SA, Reuters Brazil


Aramco Can Learn From Oil's School of Hard NOCs - Bloomberg Gadfly

Aramco Can Learn From Oil's School of Hard NOCs - Bloomberg Gadfly:"If you've ever wondered what national oil companies are for, one of the bigger ones offers this pithy take on the cover of its annual report:This isn't strange; national oil companies, or NOCs in industry parlance, are often their country's biggest corporate entity, employer and source of public revenue. The question is what they offer international investors, especially as we await the IPO of the biggest NOC of all, Saudi Arabi...
Tags: Travel, China, Russia, Brazil, Norway, CNOOC Ltd, Petroleo Brasileiro SA, NOC, Statoil ASA, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Rosneft Oil Co PJSC, PetroChina Co Ltd China Petroleum Chemical Corp


Brazil's Petrobras, China Development Bank sign cooperation deal

BRASILIA (Reuters) - Brazil’s state-run oil company, Petroleo Brasileiro SA , entered a strategic agreement with China Development Bank on Saturday that will allow it to explore opportunities on the Chinese financial market, Valor Economico newspaper reported.
Tags: Money, businessNews, Brazil, Petroleo Brasileiro SA, BRASILIA, Reuters Brazil, China Development Bank, Valor Economico, Petrobras China Development Bank


Exclusive - Citigroup tops bank group for Petrobras unit IPO - source

SAO PAULO (Reuters) - Citigroup Inc and seven other banks will underwrite the initial public offering of Petróleo Brasileiro SA's fuel distribution unit, which will likely occur in November, a person with direct knowledge of the plan said.
Tags: Money, Ipo, businessNews, Citigroup, Petrobras, Petroleo Brasileiro SA, SAO PAULO Reuters Citigroup Inc